United Asset Strategies Inc. increased its holdings in Wells Fargo & Company (NYSE:WFC) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 105,528 shares of the financial services provider’s stock after acquiring an additional 4,653 shares during the quarter. Wells Fargo & makes up 1.7% of United Asset Strategies Inc.’s portfolio, making the stock its 16th biggest position. United Asset Strategies Inc.’s holdings in Wells Fargo & were worth $5,847,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in WFC. Delphi Private Advisors LLC lifted its stake in shares of Wells Fargo & by 262.8% in the second quarter. Delphi Private Advisors LLC now owns 2,017 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 1,461 shares in the last quarter. Brick & Kyle Associates lifted its stake in shares of Wells Fargo & by 9.5% in the first quarter. Brick & Kyle Associates now owns 1,859 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 162 shares in the last quarter. Clear Investment Research LLC acquired a new position in shares of Wells Fargo & in the second quarter worth about $121,000. Signature Estate & Investment Advisors LLC acquired a new position in shares of Wells Fargo & in the first quarter worth about $124,000. Finally, America First Investment Advisors LLC lifted its stake in shares of Wells Fargo & by 8.3% in the second quarter. America First Investment Advisors LLC now owns 2,612 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 75.02% of the company’s stock.
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Wells Fargo & Company (NYSE WFC) opened at 55.87 on Monday. Wells Fargo & Company has a 52 week low of $44.49 and a 52 week high of $59.99. The company has a market capitalization of $275.32 billion, a price-to-earnings ratio of 14.44 and a beta of 0.97. The firm’s 50-day moving average price is $54.01 and its 200-day moving average price is $53.51.
Wells Fargo & (NYSE:WFC) last issued its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.20). The company had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.30 billion. Wells Fargo & had a net margin of 22.00% and a return on equity of 12.59%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 EPS. On average, equities analysts expect that Wells Fargo & Company will post $3.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 3rd will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, November 2nd. Wells Fargo &’s dividend payout ratio is currently 40.31%.
Several research analysts recently commented on the company. Buckingham Research reiterated a “neutral” rating and issued a $62.00 price target (up previously from $60.00) on shares of Wells Fargo & in a research note on Monday, July 10th. Vetr upgraded Wells Fargo & from a “sell” rating to a “hold” rating and set a $54.49 price objective on the stock in a research note on Tuesday, October 24th. Keefe, Bruyette & Woods restated an “overweight” rating on shares of Wells Fargo & in a research note on Thursday, July 13th. Piper Jaffray Companies restated a “hold” rating on shares of Wells Fargo & in a research note on Sunday, July 30th. Finally, BidaskClub cut Wells Fargo & from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Six research analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Wells Fargo & has a consensus rating of “Hold” and an average price target of $57.20.
About Wells Fargo &
Wells Fargo & Company is a bank holding company. The Company is a diversified financial services company. It has three operating segments: Community Banking, Wholesale Banking, and Wealth and Investment Management. The Company offers its services under three categories: personal, small business and commercial.
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